Intel layoffs | Bearish blow! Chipmaker Intel’s job cuts again, 235 employees fired

Pudhari Online: Leading chipmaker tech company Intel, which is giving reason for the market slowdown, will once again cut jobs. Or 235 employees of the employer will be affected. Intel has revealed plans to cut 235 jobs in its engineering and development department at its Folsom campus in Sacramento County, US. The job cuts will start from December 31 and will last for two weeks. Or it is the fifth round of the year in which Nokrakpatichi is the same. (Intel layoffs)

The same information was obtained from state regulatory filings. San Francisco ChronicleHas given. The objective of the company is to organize the proceedings. An Intel spokesperson said the company’s strategic direction going forward is aimed at reducing expenses across its operations, including specific business divisions. A company spokesperson further said, “Intel continues to accelerate its cost-cutting strategy across a number of initiatives. Which includes the employees,” said the company spokesperson.

This Paul can anticipate additional staff in the coming year. This would indicate the possibility of further restructuring in the company. Earlier, Intel would have reduced 549 positions at its Folsom campus. The unemployment rate would have been about 10 percent of the total workforce.

expenses all over the place

The lack of employment is due to reasons related to Intel’s broader economic objectives. Or the company would have announced its intention to reduce spending by $10 billion by 2025 through job cuts, workforce reductions, and possible divestitures in 2022.

Despite layoffs, Intel has retained a workforce of over 13,000 in California. The Folsom campus, home to a variety of research and development efforts, has played a key role in the development of the company’s SSDs, graphics processors, software and chipsets. (Intel layoffs)

recession hit company

During the earnings release in October, Intel CEO Pat Gelsinger announced that the slowdown in the personal computer market had dealt a major blow to the company’s financial performance. The company’s revenues for the third quarter would have shown a significant decline.